Aurum Resources Unveils 1.6Moz Boundiali Gold Resource and Advances Mako Merger

Maiden Resource Marks a Milestone

Aurum Resources Limited (ASX: AUE) has delivered a significant milestone with the announcement of a maiden Mineral Resource Estimate (MRE) of 1.59 million ounces of gold at its Boundiali Gold Project in Côte d'Ivoire. This JORC 2012-compliant resource consolidates the BST, BDT1 & BDT2, and BMT1 & BMT3 deposits, covering a substantial 1,037km² area within a prolific West African greenstone belt.

The resource estimate is underpinned by an extensive drilling campaign comprising 480 drill holes and nearly 74,000 meters of drilling, much of which has been conducted since Aurum took over management in late 2023. The company’s aggressive diamond drilling program continues to reveal shallow, wide, and high-grade gold intersections, including a standout intercept of 1.19 meters grading 277.54 grams per tonne (g/t) gold from 31 meters depth at the BM tenement.

Ongoing Drilling Success and Project Expansion

Drilling results have consistently demonstrated the emerging potential of the Boundiali project, with mineralisation remaining open both along strike and at depth. Highlights from recent drilling include multiple high-grade intercepts such as 17.31 meters at 5.90 g/t Au and 1 meter at 150.50 g/t Au, reinforcing the project's robust grade profile.

Aurum has earned an 80% interest in the BM tenement through fulfilling its drilling commitments, with plans to expand this interest further. The company is gearing up for an ambitious 100,000-meter diamond drilling program in 2025 aimed at resource growth and exploration of new targets identified through soil anomalies and geological mapping.

Metallurgical Advances and Infrastructure Development

Complementing the resource growth, metallurgical testwork has delivered encouraging results, with gold recoveries exceeding 95% through combined gravity and leaching processes. The ore is amenable to a standard free-milling process, potentially reducing operational complexity and costs.

To support the accelerated exploration activities, Aurum has expanded its diamond drilling fleet to eight rigs and completed the first stage of a centralised exploration camp capable of housing 50 personnel, with further expansions underway.

Strategic Merger and Capital Raising

On the corporate front, Aurum has agreed to merge with Mako Gold Limited (ASX: MKG) via an off-market takeover bid offering a 112% premium to Mako shareholders. Aurum currently holds over 90% of Mako shares and is moving towards compulsory acquisition of the remainder. This merger is expected to create a stronger gold exploration and development entity in West Africa, combining Aurum’s Boundiali project with Mako’s Napie Gold Project.

To fund the acquisition and ongoing exploration, Aurum completed a $10 million share placement at $0.35 per share. The capital injection will also support feasibility studies and environmental approvals for Boundiali, positioning the company well for the next phase of development.

Looking Ahead

With a robust resource base, high-grade drilling results, and a strengthened balance sheet, Aurum Resources is poised to accelerate its growth trajectory in Côte d'Ivoire. The company’s focus on expanding the Boundiali resource and integrating Mako’s assets could unlock significant shareholder value as it advances towards a Pre-Feasibility Study expected by late 2025.